Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with Multiplier & TakoSwap on September 29th, 2020. This guest star Mr. D.R. Dudley (Marketing Director). If you were unable to join the live AMA, no worries, here comes our 4th AMA recap!
We are glad to meet here:
Mr. D.R. Dudley – Marketing Director
Introduction Session
Before we start our first segment kindly introduce yourself to the community?
Hello everyone, my name is Dudley and I’m the Marketing Director of Multiplier.Finance (https://multiplier.finance).
Multiplier was established in early 2019 as a licensed crypto lender, we transitioned into DeFi and officially launched our first DeFi MainNet protocol on 9th September 2020.
We will be launching our next DeFi product on 30th September 2020, TakoSwap https://takoswap.org
Question Segment 1
Q1. What is TakoSwap? When is TakoSwap’s official launch? and is TakoSwap audited?
TakoSwap’s official launch is tomorrow at 12pm UTC+8! approximately 20 hours from now.
TakoSwap is an AMM DEX that is built on the Ethereum Blockchain.
TakoSwap is part of the Multiplier Ecosystem and enables anyone to swap tokens and supply liquidity.
Liquidity providers on TakoSwap will earn 0.3% of the swap fees and staking of TLP tokens (TAKO LP tokens) will farm TAKO rewards.
TakoSwap is audited by Brahmah Systems, which has previously audited dYdX and mStable.
You may view the audit report here:
https://bramah.systems/audits/Multiplier_Finance_Audit_Bramah.pdf
Q2. What is the difference between TakoSwap and other swaps?
TakoSwap is a fork of Sushiswap and Uniswap.
Multiplier Finance made modifications which decreased the overall complexity by removing non-core elements of the protocol and reducing the overall attack surface.
To ensure fairness, TakoSwap has also removed the ‘reward multiplier’ and the ‘10% developer incentive feature’ seen on SushiSwap. Also, we are still building our community in anticipation of tomorrow’s TakoSwap grand launch.
As such, we are giving great rewards to our community members.
We will be giving 10,000 USDT to over 100 winners today and tomorrow on my channel. https://t.me/themultiplierio
Q3. What are the Tako Token Economics like?
TAKO’s total supply is limited to 80 Million. TAKO tokens are 100% distributed to the community, with no team allocation and no initial public sale. 20,000 TAKO tokens will be used to supply initial liquidity. TakoSwap will eventually be 100% governed by the community.
The thing about swaps is that it’s great to be in early, because the emission rate (rewards) gradually drop.
Here is our TAKO distribution chart:
Q4. How can users get Tako? What are the initial pools?
When TakoSwap launches tomorrow, users can swap their ETH for TAKO, or farm TAKO through our pools.
· MultiTako: TAKO — MXX TLP (Up to 30,000% APY)
· MakiRoll: MXX — ETH TLP (Up to 30,000% APY)
· Takoball: TAKO — ETH TLP (Up to 30,000% APY)
· UniSushi: SUSHI — UNI TLP (Up to 15,000% APY)
· Sushi: SUSHI — ETH TLP (Up to 12,000% APY)
· Uni: UNI — ETH TLP (Up to 12,000% APY)
· Sochu: USDC — ETH UNI-V2 LP (Up to 8,000% APY)
· Udon: USDT — ETH UNI-V2 LP (Up to 8,000% APY)
Q5. What is the utilisation of Tako?
i) TAKO can be used to supply liquidity on TakoSwap.
ii) TAKO can be used as collateral on the SSB platform to mint MXX.
iii) TAKO allows holders to participate in the future governance of TakoSwap.
Q6. Why did Multiplier create TakoSwap?
Multiplier Finance’s vision is to create a suite of high-value financial products.
We view the DEX as a critical component of our ecosystem.
The Multiplier Ecosystem currently consists of 3 products each with its own unique function and purpose
– Simplified Stable Bonds (SSB)
– TakoSwap
– Multi-Chain Mining (going live soon)
I would also like to use this opportunity to say that we are currently building our community, and have gone to great lengths to incentivise our users.
We will be giving away more than 10,000 usdt to over 100 winners! Just join https://t.me/themultiplierio
Q7. What is SSB and Multi-Chain Mining?
Simplified Stable Bonds (SSB) contracts were created to allow investors to earn a stable yield on their Ethereum/ERC-20 digital assets. Users have the flexibility to create their own SSB contracts where they can determine the tenure and interest rate they want to earn on their underlying asset.
Multi-chain Mining is one of our upcoming products due to be launched very soon.
Multiplier will operate numerous POS (Proof-Of-Stake) validator nodes to secure those networks. By doing so, we will accept and allow token owners to stake their tokens in our mining pool.
An example will be the Cardano stake pool which accepts ADA tokens. Based on each epoch, our pool will generate a certain ROI.
This ROI (ADA rewards) will be used as an incentive for the MXX holders who have pledged their MXX token to govern the Multiplier platform. In a way, we are incentivising MXX holders to govern our platform.
Once you pledge your MXX to govern, you will automatically be enrolled into the Earn program, where the Multi-Chain Mining rewards will be fully distributed.
Q8. What are the future developments planned for TakoSwap/Multiplier Finance?
DEFI is about bringing traditional financial products in a decentralised fashion to the masses. An emerging trend we foresee is the integration of different blockchains to create a “Universal Tokenomic”; to be able to use an ERC20 token to mint bags of coins from other blockchains.
The up-coming Multi-Chain Mining product is the first protocol which we will design, that allows our community to govern and earn rewards from our POS staking pool operation. Our pool will cover promising and prominent projects such as Cardano, Polkadot, Cosmos, Kava, Kusama, Tezos and many others.
Question from Twitter
Q1. in any business, trust and security are very important, what about the TakoSwap? what makes investors, customers and users feel safe when working with TakoSwap?
As we were previously a CeFi lender, we fully understand the importance of security.
That is why we formed notable partnerships such as that with Coinbase Custody
Currently, after transitioning into DeFi, we ensure that our solidity smart contract codes are fully audited by leading industry security expert such as Certik and Bramah Systems.
All our current DEFI systems are carefully designed to avoid manipulation (eg Price manipulation) and Liquidation risk.
We make sure that we take care of all potential risk/security for our community. This is our highest priority.
Q2. Can you list 1-3 main features of Takoswap that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most remarkable about?
1. We have improved on the underlying forked protocol:
We have made modifications which decreased the overall complexity by removing non-core elements of the protocol and thereby reducing the overall attack surface. To ensure fairness, TakoSwap has also removed the ‘reward multiplier’ and the ‘10% developer incentive feature’ seen on SushiSwap.
2. We have increased utility:
TakoSwap is meant to complement the Multiplier Ecosystem’s suite of products and not built to rival Sushi, Uniswap or any other swap directly.
Our value lies in the Multiplier Ecosystem, which serves as a revenue generating opportunity for holders of MXX tokens.
3. We have higher rewards:
With initial block rewards of 2000 TAKO every 15 seconds, we are among the highest in the industry.
For users who have used swap platforms, they’ll understand why it’s important to enter early, because the emission rate goes down over time.
I will say that our most important feature is our utility.
In the near future we will introduce Multi-Chain Mining.
This will be our first step towards enabling our erc20 token to reap the benefits from other blockchains.
Q3. What do you think about Indonesia as crypto market? Do you have future plan to improve your ecosystem, especially for Indonesian people, who participate and help your project more bigger?
The Indonesian crypto market is very vibrant and there’s a lot of innovation happening.
Indonesia has always been one of the front runners in the region when it comes to tech.
As Multiplier.Finance is based in Hong Kong and I am personally from Singapore. Indonesia is one of the countries I frequently travel to and is one that is close to my heart.
Indonesia is one of the most populated countries in the world.
We will definitely do more marketing such as today’s AMA in Indonesia.
Q4. What’s your vision ultimately? What is MultiplierMXX trying to achieve in the longer term and how do you plan to get there? How will you build strong relationships with communities?
DEFI is about bringing traditional financial products in a decentralised fashion to the masses.
An emerging trend we foresee is the integration of different blockchains to create a “Universal Tokenomic”; to be able to use an ERC20 token to mint bags of coins from other blockchains.
The up-coming Multi-Chain Mining product is the first protocol which we will design, that allows our community to govern and earn rewards from our POS staking pool operation.
Our pool will cover promising and prominent projects such as Cardano, Polkadot, Cosmos, Kava, Kusama, Tezos and many others.
Our vision is to start connecting different blockchains, starting with our Multi-Chain Mining product.
We aim to build strong relationships by constantly building better products over time, as well as incentivising our community members with exceptional rewards.
Such as our 10,000 USDT giveaway that’s happening on our telegram channel just for today and tomorrow!
Q5. What are the Solutions to Improve AMMs? Does TakoSwap support On-Chain oderbook? How will TakoSwap deal with the Current Limitations of AMMs: Leverage, Shorts, and Impermanent Loss (IL)?
With the current Ethereum blockchain scalability, it is extremely hard to support on-chain order book, such as limit order, stop-limit, etc.
Even with ETH2.0, it is yet to be proven that it can support realtime order books.
Currently, Multiplier’s focus is not on AMM design, but to develop products that generate revenue/utility for our community members. We do this by constantly updating our platform and features with the latest technological innovation.
Segment Free Asking
Q1. If anybody thinks your project really likes a scam project, and they can’t trust this project. How do you make them believe in your project?
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates??
All our defi protocols are audited by leading cybersecurity Auditors, and our team is not anonymous.
We have collaborated with leading crypto companies such as Coinbase Custody and JUMIO.
And most importantly, we are 100% transparent. All transactions and TVL can be seen in etherscan and our protocol codes are open sourced and verifiable. https://t.me/themultiplierio.
Do join our discord for a very detailed view of our team’s work in every department
Q2. What is the use of MXX in the Ecosystem of Multiplier and therefore takoSwap? Is it the only token in the ecosystem?
Multiplier Finance’s vision is to create a suite of high-value financial products. We view the DEX as a critical component of our ecosystem. The Multiplier Ecosystem currently consists of 3 products each with its own unique function and purpose – Simplified Stable Bonds (SSB), TakoSwap and Multi-Chain Mining (going live soon.)
Simplified Stable Bonds (SSB) contracts were created to allow investors to earn a stable yield on their Ethereum/ERC-20 digital assets. Users have the flexibility to create their own SSB contracts where they can determine the tenure and interest rate they want to earn on their underlying asset.
Multi-chain Mining is one of our upcoming products due to be launched very soon.
Multiplier will operate numerous POS (Proof-Of-Stake) validator nodes to secure those networks. By doing so, we will accept and allow token owners to stake their token in our mining pool.
An example will be the Cardano stake pool which accepts ADA tokens. Based on each epoch, our pool will generate a certain ROI.
This ROI (ADA rewards) will be used as an incentive for the MXX holders who have pledged their MXX token to govern the Multiplier platform. In a way, we are incentivising MXX holders to govern our platform.
Once you pledge your MXX to govern, you will automatically be enrolled into the Earn program, where the Multi-Chain Mining rewards will be fully distributed.
Q3. How to get Tako token?
We launch TakoSwap tomorrow at 12pm UTC+8 (approximately 18.5 hours time)
You may swap for TAKO or provide liquidity to farm TAKO on https://TakoSwap.org.
Remember to farm earlier as the rewards decrease over time.
Lihat artikel cointelegraph kami untuk informasi lebih lanjut. Terima kasih
Q4. We’ve seen a lot of breaches and hacks recently on the smart contracts. Do you have some special algorithm to ensure high security and the performance of your network?
We shouldn’t be surprised especially with recent trends.
Blockchains/smart contracts are particularly attractive to hackers because fraudulent transactions can’t be reversed.
Not forgetting that source codes are open for public viewing; if a smart-contract has existing bugs, hackers will find it.
To prevent this, we strong believe in having our protocol audited, even though our protocol is a fork from sushiswap and Uniswap (which are already audited).
We have also made modifications which decreased the overall complexity by removing non-core elements of the protocol and thereby reducing the overall attack surface.
To ensure fairness, TakoSwap has also removed the ‘reward multiplier’ and the ‘10% developer incentive feature’ seen on SushiSwap.
We also use auditing tools, which have begun to emerge in the past year or so. These have allowed smart-contract creators to eliminate many of the bugs that use to be “low-hanging fruit”.
Q5. TOTAL SUPPLY TAKO IS 80 MILLION
Do you have any Coin Burn / Buy Back systems or any Token Burn plans to increase the value of Token & attract Investors to invest??
We do have a burn mechanism feature in our SSB contracts. And on TOP of that, we are creating a multi-chain mining product, to allow MXX holders to mint bags of coins from different blockchains.
MORE INFO ABOUT Obliquity Network
Website Multiplier : https://multiplier.finance/
Website TakoSwap : https://takoswap.org/
Twitter : https://twitter.com/MultiplierMXX
Telegram : https://t.me/themultiplierio